AUD/USD – 30M – BUYThe combination Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline up.
The bullish trend upwards to the next resistance level at 0.62257 is likely expected.
Caution: A possible change in the direction of the support level at 0.62044 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Three Outside Up’ candlestick chart pattern is found. The candles form ‘Three Outside Up’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62646 |
| 2nd High | 0.62539 |
| Next High | 0.62257 |
| Current Price | 0.62159 |
| Next Low | 0.62044 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up